XBIO Stock Increased 27.96% After Hours: Why It Happened

By Amit Chowdhry ● Jul 23, 2021
  • The stock price of Xenetic Biosciences Inc (NASDAQ: XBIO) increased 27.96% after hours. Why It Happened

The stock price of Xenetic Biosciences Inc (NASDAQ: XBIO) – a biopharmaceutical company focused on advancing XCART, a personalized CAR T platform technology engineered to target patient- and tumor-specific neoantigens – increased 27.96% after hours. 

Xenetic Biosciences is initially advancing cell-based therapeutics targeting the unique B-cell receptor on the surface of an individual patient’s malignant tumor cells for the treatment of B-cell lymphomas. XCART has the potential to fuel a pipeline of therapeutic assets targeting high-value oncology indications. And Xenetic is utilizing PolyXen, its proprietary drug delivery platform, by partnering with biotechnology and pharmaceutical companies. PolyXen demonstrated its ability to improve the half-life and other pharmacological properties of next-generation biologic drugs. The company has an exclusive license agreement with Takeda Pharmaceuticals Co. Ltd. in the field of coagulation disorders and receives royalty payments under this agreement.

According to the Pacific Coast Business Times, Takeda Pharmaceuticals is expanding its facility in Thousand Oaks and the company is investing $126 million to build out its manufacturing operations to support new product lines.

Takeda has been in Thousand Oaks since 1996. And the expansion includes a new 15,000-square-foot manufacturing facility along with a renovation of the existing 14,000-square-foot manufacturing space.

“The most exciting part and one of the core parts of this expansion is building out our health services and therapeutics area and allow us to serve patients that we don’t currently treat and illnesses that we don’t currently treat,” said Stephen Hatke, vice president of manufacturing operations and site head of the Thousand Oaks office at Takeda via Pac Biz Times.

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